THQ announces common stock buy-back plan
Share price "not a true reflection" of company's track record.
THQ Inc. today announced that its board of directors has authorised the repurchase of up to $25,000,000 of its common stock from time to time on the open market or in private transactions.
The decision was prompted by THQ’s strong cash position and the Company’s current stock price, which closed at $22.89 in today’s trading. The company currently has 39,653,204 shares of common stock outstanding.
“We believe our stock is a good investment,” said Brian Farrell, president and CEO, THQ. “We think our current share price is not a true reflection of our proven track record and outlook for future growth.”
The decision was prompted by THQ’s strong cash position and the Company’s current stock price, which closed at $22.89 in today’s trading. The company currently has 39,653,204 shares of common stock outstanding.
“We believe our stock is a good investment,” said Brian Farrell, president and CEO, THQ. “We think our current share price is not a true reflection of our proven track record and outlook for future growth.”
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